FAQ Categories

FAQ: Settlements

- What are settlements?

A settlement is an easy way to settle up either directly with a friend, or in a pool. Settlements always work out the most efficient way of repaying all of the debts between the people involved so that you don't have to worry about the individual debts, just the overall amount that needs to be repaid.

If you are settling up with a friend, there will only ever be a single payment, either from you to the other person, or vice versa, depending on who is ahead or behind overall.

When you settle up in a pool, WhoseBill works out the most efficient set of payments to be made between the members to cancel all the debts. This generally means that those who owe the most will need to pay back money to those who are owed the most. In a pool, it doesn't really matter who paid for what, and who actually owes which person, so long as at the end everyone has paid their fair share. Behind the scenes, all the individual debts are "repaid" between the people who paid and those that owe, but the actual repayments are much, much simpler. And that's the beauty of WhoseBill pools – no matter how complicated it all gets, WhoseBill can tell you how to sort it all out in an instant!